Need a new accountant,

Lenders..

BMO Harris

Mitsubiisi Capital HC…formerly ENGS

Just two I’ve used that were relatively painless getting funded.

 

Oasis Business & Insurance Solutions LLC
these are the guys i use.. been using them since 2017…speak to Anthony who is essentially the owner managing partner…they’re based in Wausau WI btw.. take clients nationwide..

 

I just went straight through volvo/Mack for the Mack. VFS Financial.

 

I use ATBS as my accountant. Tried a few others and ended up going back them them to get it un####ed.

 

I would recommend using an accountant every few years - not religiously. Check the IRS web and look at FILLABLE FORMS. Change puppy to dog - meaning use the forms your accountant used and track your own P&L. Once you download all forms required it’s a number game. When you enter the amount on a specific Form it automatically updates your 1040 - your primary document that has your signature on it. It’s also not a bad practice to execute the PROFIT & LOSS fillable form each month, it’s amazing what you will learn about your business if you track and input your figures with regularity.

 

I have used Paccar and BMO. I never heard of Mitsubishi Capital. How do you compare them with BMO?

 

They used to be named Engs Commercial Finance. Was really easy getting approved and they pretty much would be approved for $500k without digging into your finances.

My tractor loan is with MC but was funded before the name change. I don’t see much of a difference between them and BMO. Both will throw money at you and their rates and terms similar.

Aside from the interest rates you really need to pay attention to the early payoff fees. I really screwed my self over when my last trailer was stolen. I forgot who the lender was but I basically lost $10k because of their payoff fee on a trailer that I never got to use.

Paccar won’t loan us any money because I’m not listed as the company owner. Just like with ooida, I can’t get membership benefits due to how my business is structured.

On another note, If you’re interested in used equipment, Ritchie Brothers will throw money at you also. I got $280k line of credit with them and I believe you can use them to fund new equipment.

 

Thank you for the info.